Semiannual Servicer’s Certificate between CenterPoint Energy Houston Electric, LLC and CenterPoint Energy Transition Bond Company, LLC (September 2012)
Contract Categories:
Business Operations
›
Administration Agreements
Summary
This certificate, issued by CenterPoint Energy Houston Electric, LLC as Servicer to CenterPoint Energy Transition Bond Company, LLC as Issuer, reports on the collection and allocation of funds related to $748,897,000 in Transition Bonds, Series 2001-1, for the period from March 14, 2012 to September 13, 2012. It details collections, payments, account balances, and confirms that all required payments and subaccount fundings have been made as of the September 17, 2012 payment date. No shortfalls in payments or required account levels are reported.
EX-10.1 2 tbcexhibit101_09302012.htm EXHIBIT TBC Exhibit 10.1_09.30.2012
Exhibit 10.1
Semiannual Servicer’s Certificate | |||||||||
CenterPoint Energy Transition Bond Company, LLC (formerly Reliant Energy Transition Bond Company LLC) | |||||||||
$748,897,000 Transition Bonds, Series 2001-1 | |||||||||
Pursuant to Section 6 of Annex 1 to the Transition Property Servicing Agreement (the "Agreement"), dated as of October 24, 2001, between | |||||||||
CenterPoint Energy Houston Electric, LLC (formerly Reliant Energy, Incorporated), as Servicer, and CenterPoint Energy Transition Bond | |||||||||
Company, LLC (formerly Reliant Energy Transition Bond Company LLC), as Issuer, the Servicer does hereby certify as follows: | |||||||||
Capitalized terms used in this Semiannual Servicer’s Certificate have their respective meanings as | |||||||||
set forth in the Agreement. References herein to certain sections and subsections are references | |||||||||
to the respective sections and subsections of the Agreement. | |||||||||
Collection Periods: March 14, 2012 through September 13, 2012 | |||||||||
Payment Date: September 17, 2012 | |||||||||
Today's Date: September 13, 2012 | |||||||||
1. Collections Allocable and Aggregate Amounts Available for Current Payment Date: | |||||||||||
i. | Remittances for the March 14 through 31, 2012 Collection Period | 4,847,994.87 | |||||||||
ii. | Remittances for the April 1 through 30, 2012 Collection Period | 6,926,321.56 | |||||||||
iii. | Remittances for the May 1 through 31, 2012 Collection Period | 9,099,590.23 | |||||||||
iv. | Remittances for the June 1 through 30, 2012 Collection Period | 9,022,714.81 | |||||||||
v. | Remittances for the July 1 through 31, 2012 Collection Period | 10,495,647.72 | |||||||||
vi. | Remittances for the August 1 through 31, 2012 Collection Period | 11,455,947.41 | |||||||||
vii. | Remittances for the September 1 through 13, 2012 Collection Period | 5,576,154.81 | |||||||||
viii. | Net Earnings on Collection Account | [through 8/31/12] | |||||||||
General Subaccount | 16,813.65 | ||||||||||
Overcollateralization Subaccount | 2,118.05 | ||||||||||
Capital Subaccount | 2,429.05 | ||||||||||
Reserve Subaccount | 12,856.93 | ||||||||||
ix. | General Subaccount Balance (sum of i through viii above) | 57,458,589.09 | |||||||||
x. | Reserve Subaccount Balance as of Prior Payment Date | 20,822,113.94 | |||||||||
xi. | Overcollateralization Subaccount Balance as of Prior Payment Date | 3,276,424.38 | |||||||||
xii. | Capital Subaccount Balance as of Prior Payment Date | 3,744,485.00 | |||||||||
xiii. | Collection Account Balance (sum of ix through xii above) | 85,301,612.41 | |||||||||
2. Outstanding Amounts as of Prior Payment Date: | |||||||||||
i. | Class A-1 Principal Balance | 0.00 | |||||||||
ii. | Class A-2 Principal Balance | 0.00 | |||||||||
iii. | Class A-3 Principal Balance | 0.00 | |||||||||
iv. | Class A-4 Principal Balance | 174,081,107.00 | |||||||||
v. | Aggregate Principal Balance of all Series 2001-1 Transition Bonds | 174,081,107.00 | |||||||||
3. Required Funding/Payments as of Current Payment Date: | |||||||||||||
Projected Principal | Semiannual | ||||||||||||
Series 2001-1 Principal | Balance | Principal Due | |||||||||||
i. | Class A-1 | 0.00 | 0.00 | ||||||||||
ii. | Class A-2 | 0.00 | 0.00 | ||||||||||
iii. | Class A-3 | 0.00 | 0.00 | ||||||||||
iv. | Class A-4 | 108,590,064.00 | 65,491,043.00 | ||||||||||
v. | For all Series 2001-1 Transition Bonds | 108,590,064.00 | 65,491,043.00 | ||||||||||
Transition Bond | Days in Interest | ||||||||||||
Interest Rate | Period (1) | Interest Due | |||||||||||
vi. | Required Class A-1 Interest | 3.840 | % | 180 | 0.00 | ||||||||
vii. | Required Class A-2 Interest | 4.760 | % | 180 | 0.00 | ||||||||
viii. | Required Class A-3 Interest | 5.160 | % | 180 | 0.00 | ||||||||
ix. | Required Class A-4 Interest | 5.630 | % | 180 | 4,900,383.16 | ||||||||
(1) On 30/360 Day basis. | |||||||||||||
Required Level | Funding Required | |||||||||||
x. | Overcollateralization Subaccount | 3,432,444.58 | 156,020.20 | |||||||||
xi. | Capital Subaccount | 3,744,485.00 | 0.00 | |||||||||
4. Allocation of Remittances as of Current Payment Date Pursuant to Section 8.02(d) of Indenture: | ||||||||||||
i. | Trustee Fees and Expenses | 0.00 | ||||||||||
ii. | Servicing Fee | 187,224.25 | (1) | |||||||||
iii. | Administration Fee and Independent Managers Fee | 50,000.00 | (2) | |||||||||
iv. | Operating Expenses | 76,748.67 | (3) | |||||||||
v. | Semiannual Interest (including any past-due Semiannual Interest for prior periods) | |||||||||||
Per 1,000 | ||||||||||||
of Original | ||||||||||||
Series 2001-1 | Aggregate | Principal Amount | ||||||||||
1. Class A-1 Interest Payment | 0.00 | 0.00 | ||||||||||
2. Class A-2 Interest Payment | 0.00 | 0.00 | ||||||||||
3. Class A-3 Interest Payment | 0.00 | 0.00 | ||||||||||
4. Class A-4 Interest Payment | 4,900,383.16 | 12.70 | ||||||||||
vi. | Principal Due and Payable as a result of Event of Default or on Final Maturity Date | |||||||||||
Per 1,000 | ||||||||||||
of Original | ||||||||||||
Series 2001-1 | Aggregate | Principal Amount | ||||||||||
1. Class A-1 Principal Payment | 0.00 | 0.00 | ||||||||||
2. Class A-2 Principal Payment | 0.00 | 0.00 | ||||||||||
3. Class A-3 Principal Payment | 0.00 | 0.00 | ||||||||||
4. Class A-4 Principal Payment | 0.00 | 0.00 | ||||||||||
vii. | Semiannual Principal | |||||||||||
Per 1,000 | ||||||||||||
of Original | ||||||||||||
Series 2001-1 | Aggregate | Principal Amount | ||||||||||
1. Class A-1 Principal Payment | 0.00 | 0.00 | ||||||||||
2. Class A-2 Principal Payment | 0.00 | 0.00 | ||||||||||
3. Class A-3 Principal Payment | 0.00 | 0.00 | ||||||||||
4. Class A-4 Principal Payment | 65,491,043.00 | 169.71 | ||||||||||
viii. | Amounts Payable to Credit Enhancement Providers (if applicable) | N/A | ||||||||||
ix. | Operating Expenses not Paid under Clause (iv) above | 0.00 | ||||||||||
x. | Funding of Capital Subaccount | 0.00 | ||||||||||
xi. | Funding of Overcollateralization Subaccount | 156,020.20 | ||||||||||
xii. | Net Earnings in Capital Subaccount Released to Issuer | 2,429.05 | ||||||||||
xiii. | Deposit to Reserve Subaccount | 0.00 | ||||||||||
xiv. | Released to Issuer upon Series Retirement: Collection Account | 0.00 | ||||||||||
xv. | Aggregate Remittances as of Current Payment Date | 70,863,848.33 | ||||||||||
(1) Servicing fee: $748,897,000 x .05% x 180/360 = $187,224.25 | ||||||||||||
(2) Administration fee: $50,000 x 180/180 = $50,000.00; Independent Managers fee: $0 | ||||||||||||
(3) Reimbursement to Administrator for fees/expenses paid to rating agencies ($10,000.00), | ||||||||||||
outside legal counsel ($4,060.00) and independent accountants ($62,688.67). | ||||||||||||
5. Subaccount Withdrawals as of Current Payment Date | |||||||||||
(if applicable, pursuant to Section 8.02(d) of Indenture): | |||||||||||
i. | Reserve Subaccount (available for 4.i. through 4.xii.) | 13,405,259.24 | |||||||||
ii. | Overcollateralization Subaccount (available for 4.i. through 4.ix.) | 0.00 | |||||||||
iii. | Capital Subaccount (available for 4.i. through 4.ix.) | 0.00 | |||||||||
iv. | Total Withdrawals | 13,405,259.24 | |||||||||
6. Outstanding Amounts and Collection Account Balance as of Current Payment Date | |||||||||||
(after giving effect to payments to be made on such Payment Date): | |||||||||||
Series 2001-1 | |||||||||||
i. | Class A-1 Principal Balance | 0.00 | |||||||||
ii. | Class A-2 Principal Balance | 0.00 | |||||||||
iii. | Class A-3 Principal Balance | 0.00 | |||||||||
iv. | Class A-4 Principal Balance | 108,590,064.00 | |||||||||
v. | Aggregate Principal Balance for all Series 2001-1 Transition Bonds | 108,590,064.00 | |||||||||
vi. | Reserve Subaccount Balance | 7,416,854.70 | |||||||||
vii. | Overcollateralization Subaccount Balance | 3,432,444.58 | |||||||||
viii. | Capital Subaccount Balance | 3,744,485.00 | |||||||||
ix. | Aggregate Collection Account Balance | 14,593,784.28 | |||||||||
7. Shortfalls In Interest and Principal Payments as of Current Payment Date | |||||||||||
(after giving effect to payments to be made on such Payment Date): | |||||||||||
i. | Semiannual Interest | ||||||||||
Series 2001-1 | |||||||||||
1. Class A-1 Bond Interest Payment | 0.00 | ||||||||||
2. Class A-2 Bond Interest Payment | 0.00 | ||||||||||
3. Class A-3 Bond Interest Payment | 0.00 | ||||||||||
4. Class A-4 Bond Interest Payment | 0.00 | ||||||||||
ii. | Semiannual Principal | ||||||||||
Series 2001-1 | |||||||||||
1. Class A-1 Principal Payment | 0.00 | ||||||||||
2. Class A-2 Principal Payment | 0.00 | ||||||||||
3. Class A-3 Principal Payment | 0.00 | ||||||||||
4. Class A-4 Principal Payment | 0.00 | ||||||||||
8. Shortfalls in Required Subaccount Levels as of Current Payment Date | |||||||||||
(after giving effect to payments to be made on such Payment Date): | |||||||||||
i. | Overcollateralization Subaccount | 0.00 | |||||||||
ii. | Capital Subaccount | 0.00 | |||||||||
IN WITNESS HEREOF, the undersigned has duly executed and delivered this | ||||
Semiannual Servicer's Certificate this 13th day of September, 2012. | ||||
CENTERPOINT ENERGY HOUSTON ELECTRIC, LLC | ||||
(formerly RELIANT ENERGY, INCORPORATED), as Servicer | ||||
by: | /s/ Linda Geiger | |||
Linda Geiger | ||||
Assistant Treasurer | ||||
